Kings Today, Rich Tomorrow: How Do Steward Founder-CEOs Succeed IPOs?

Asma Fattoum

    Publikation: Bidrag til bog/antologi/rapportKonferencebidrag i proceedingsForskningpeer review

    Abstrakt

    This study investigates the King vs. Rich dilemma that founder-CEOs face at IPO. When undertaking IPO, founders face two options. They can either get rich, but then run the risk of losing the control over their firms; or they can remain kings by introducing defensive mechanisms, but this is likely to lead to lower IPO valuation. Using psychological ownership theory, we argue founder-CEOs to be more likely to choose the King option. This option forces them to leave money on the table at the IPO. However, their stewardship behavior allows them to recover that money on the long-run post IPO. We provide support for all hypotheses using a unique hand-collected dataset covering the full population of 467 IPOs undertaken in France between 1992 and 2011.

    OriginalsprogEngelsk
    TitelAcademy of Management Proceedings 2013
    RedaktørerLeslie Toombs
    Antal sider6
    Udgivelses stedBriar Cliff Manor, NY
    ForlagAcademy of Management
    Publikationsdato2013
    Sider1373-1378
    DOI
    StatusUdgivet - 2013
    BegivenhedThe Academy of Management Annual Meeting 2013: Capitalism in Question - Lake Bueno Vista (Orlando), FL, USA
    Varighed: 9 aug. 201313 aug. 2013
    Konferencens nummer: 73
    http://aom.org/annualmeeting/

    Konference

    KonferenceThe Academy of Management Annual Meeting 2013
    Nummer73
    LandUSA
    ByLake Bueno Vista (Orlando), FL
    Periode09/08/201313/08/2013
    Internetadresse
    NavnAcademy of Management Proceedings
    Vol/bind2013
    ISSN2151-6561

    Citationsformater

    Fattoum, A. (2013). Kings Today, Rich Tomorrow: How Do Steward Founder-CEOs Succeed IPOs? I L. Toombs (red.), Academy of Management Proceedings 2013 (s. 1373-1378). Academy of Management. Academy of Management Proceedings, Bind. 2013 https://doi.org/10.5465/AMBPP.2013.144